Linamar (TSE:LNR) Announces Earnings Results, Beats Estimates By $0.20 EPS

Linamar (TSE:LNR) announced its quarterly earnings data on Tuesday. The company reported C$2.35 earnings per share for the quarter, beating the consensus estimate of C$2.15 by C$0.20, reports. Linamar had a return on equity of 11.31% and a net margin of 5.77%. The firm had revenue of C$2.64 billion during the quarter, compared to analyst estimates of C$2.75 billion.

Linamar Stock Performance

LNR stock opened at C$59.88 on Thursday. Linamar has a 1 year low of C$54.95 and a 1 year high of C$73.84. The stock has a market capitalization of C$3.69 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 1.12 and a beta of 1.41. The company has a debt-to-equity ratio of 46.32, a quick ratio of 0.75 and a current ratio of 1.68. The stock’s fifty day moving average is C$61.72 and its two-hundred day moving average is C$65.00.

Analyst Ratings Changes

Several research analysts have recently commented on LNR shares. BMO Capital Markets decreased their target price on Linamar from C$80.00 to C$75.00 in a research report on Wednesday. CIBC lowered their target price on shares of Linamar from C$88.00 to C$85.00 in a research note on Friday, November 8th. TD Securities downgraded shares of Linamar from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$89.00 to C$68.00 in a research report on Wednesday. Finally, Scotiabank downgraded shares of Linamar from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$86.00 to C$77.00 in a research report on Tuesday, October 29th.

Linamar Company Profile

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.